BUDGET OUTLOOK
SOCIAL SECURITY BENEFITS LARGE INCREASES EXPECTED (By Telegraph.—Press Association) WELLINGTON, Thursday The Budget will be presented in the House of Representatives tonight together with the Estimates of departmental expenditure, according to an announcement made by the Minister of Finance, Mr Nash, after a caucus of the Parliamentary Labour Party. Substantial increases in social} security benefits are expected to ber included in the Budget and full details probably will be given of th« proposed minimum family income,, which will be the subject of legislation later in the session. An in-* crease of 5s a week has been mentioned in the social security benefits. Social security tax now amount* to Is in the pound on wages, salaries and income, and it was stated publicly by Mr F. Hackett (Govemmen*—Grey Lynn) some month* ago that the present national security tax of Is 6d in the pound on all forms of income was to be diverted, to the social security fund to provide additional benefits. • Suggestions similar to those made before the last Budget that the personal exemption from income tax might be increased from £2OO to £250 or £3OO in the case of the family man. have been made, but if any adjustments are made they are not expected to go to this extent.
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Bibliographic details
Waikato Times, Volume 106, Issue 22682, 9 August 1945, Page 4
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213BUDGET OUTLOOK Waikato Times, Volume 106, Issue 22682, 9 August 1945, Page 4
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